The Ravens received a seventh-round pick in 2022 and a fifth-rounder in 2023, a source told ESPN. The seventh-round pick is the one the Patriots acquired from the Houston Texans for tight end Ryan Izzo.
Wade, a fifth-round pick out of Ohio State, was not going to make the Ravens' 53-man roster next week after being passed on the depth chart by Chris Westry. The Ravens decided to get some picks for Wade because they figured he wouldn't clear waivers and make it to their practice squad.
The Patriots have been thin at cornerback, with No. 1 option Stephon Gilmore (quad) still on the physically unable to perform list, and he also has expressed the desire to have his contract addressed.
In Gilmore's absence, the team has had J.C. Jackson and Jalen Mills as the starters, with Jonathan Jones in the slot. Joejuan Williams, a 2019 second-round draft choice who has yet to start an NFL game, is next on the depth chart.
Jones, the team's top slot corner, has been in and out of practice over the past week.
Considered a first-round prospect entering the 2020 season, Wade had a rocky senior season and plummeted to the 160th pick in this year's draft.
ESPN's Mike Reiss contributed to this report.